A Franchise Business Plan

A Franchise Business Plan

Owners of both independent and franchised businesses are called upon to make entrepreneurial decisions each and every day. Decision-making is part of the package called business ownership. When pursuing the franchise purchase decision, make sure you put on your entrepreneur's hat. It may be what convinces your franchisor that you are the right one for the system.

Pursuing an independent business requires a business plan, but how about when pursuing a franchise business? Is there a reason to have a franchise business plan? If so, why? Doesn't a franchise business already have a plan set in place?

Is there a big difference between a traditional start-up business plan and a start-up franchise plan? Essentially, the franchise business plan must combine components of both the franchisee and the franchisor. A franchise business plan, in effect, merges elements of both companies. If you're trying to come up with such a plan, be sure to cover the following eight basic categories, which according to inc.com, is very important. You may notice that some are slightly different from those found in traditional business plans.

* Abstract. The abstract in your franchise business plan is briefer than an executive summary. It serves as a prologue.
* Business summary. This summary retrieves the omitted subjects of a conventional executive summary and combines them with elements of the traditional company description. Nothing is left out, just rearranged.
* Franchise overview. The overview replaces the usual industry analysis.
* The market. Treatments of the market and the competition combine to form the market section.
* Marketing plan. Marketing and sales strategies are conventionally included together in the marketing plan.
* Management qualifications. Essentially the same as in traditional business plans, this section describes your management staff and your operational framework.
* Financial pro formas. Also a traditional section, it groups together your financial projections for the first year and for a longer range of three or five years.
* Exhibits. This final section is where you put supporting documents needed to evaluate your business plan - either to support information in other sections or to provide auxiliary information not covered. If you have lots of exhibits, consider inserting some in the sections where they apply.

Inc.com also writes, if the goal of your franchise business plan is to secure financing, include a specific category that doubles as a loan request or as an investment offering proposal.

Whether you're pursuing a franchise business or an independent small business having a business plan is important. Knowing what is expected, not only of yourself, but also the franchisor, helps in the decision making process. No business should ever start without a business plan. Even if you're considering a small home based business, you should have a business plan. The plan will give you a good perspective of what is expected, both short and long term.

Looking for more information about planning for your franchise business, go to http://afranchisesolution.com.

Jeffrey Sloe, Internet Marketing Advisor to The Ultimate Team
440-725-3729
jeff@internetmarketingadvisors.net
http://ultimate.org

SOURCES

The Daily Resource for Entrepreneur's--www.inc.com

 

 

 

Top 10 Franchises Back in 2006

Top 10 Franchises Back in 2006

Want to buy a franchise on the leading edge of business, technology or innovation? Below is a list of the Top 10 Fastest Growing Franchises.

Thinking about buying a franchise this year? Many entrepreneurs try to avoid the fastest growing franchises in their purchasing decisions, fearful of market saturation and increasing competition in the marketplace.

In fact, fast-growing franchises are a plus for entrepreneurs looking to invest: these are companies willing and able to work with new franchisees, as evidenced by their track records and financial successes. Additionally, the costs associated with being a franchisor for a fast-growing company are (generally) lower than less established franchisors, and the name-brand recognition is high.

Many different web sites post a list of the top 10 franchise opportunities available each year. They usually compile and present a short history, capitalization information, number of franchises and contact information for each of the franchises ranked. For the year 2006, only twenty percent of the top 10 rankings went to food-related franchises, five of the top ten are cleaning franchises and the remaining 3 places go to real estate, health and fitness franchises.

Here is a list of the top 10 fastest growing franchises of 2006:

1. Subway: Franchise startup costs: $75,000 - 223,000 with $15,000 of that as franchise fees. All U.S., Canadian and foreign regions considered or available. 8% royalties.

2. Jan-Pro Franchising International Inc. (commercial cleaning): Franchise startup costs (from web site): "On average, the cost for a Master Franchise territory or major metropolitan area is based on $17,500 for every 100,000 in population." Canadian and U.S. regions available, with these locations already taken. 10% royalties. Also #8 on the Top 20 Low-Cost Franchises according to Entrepreneur Magazine.

3. Dunkin' Donuts: Requires liquid assets of $750,000 for 5 franchises, with $1.5 million total net worth to open a franchise. Also has specific demographic, site and lease requirements. Great franchise territory map which lists territories available as well. 5.9% royalties.

4. Coverall Cleaning Concepts: Franchise startup costs: $6,500 - 36,000 with $6-32,000 of that as franchise fees. All U.S., and Canadian regions considered; internationally only master licenses are available at this time. 5% royalties. Also #20 on the Top 20 Low-Cost Franchises according to Entrepreneur Magazine.

5. Jazzercise, Inc.: Specific franchising and business-related costs to expect for first-time franchisees listed here, including "initial franchise fee of $1,000 in the U.S. and $500 in other countries" and monthly franchise fee of 20% of all revenues. One of the most inexpensive franchises to buy into (#12 according to Entrepreneur Magazine).

6. Jackson Hewitt Tax Service: Complete franchise investment calculated for interested parties here; small markets franchise fee is approx. $10,000, medium markets $16,500 and regular markets are $25,000. Also #1 on the Top 20 Low-Cost Franchises according to Entrepreneur Magazine.

7. RE/MAX International Inc.: Franchise startup costs: $25-199,000 with $13-25,000 of that as franchise fees. All U.S., Canadian and International regions considered. Royalties vary. Also #2 on the Top 20 Low-Cost Franchises according to Entrepreneur Magazine.

8. 405 - CleanNET USA Inc.: Franchise startup costs: $11,300 - 34,100 with $8.6-16,300 of that as franchise fees. All U.S., Canadian and International regions considered. 3% royalties. Also #13 on the Top 20 Low-Cost Franchises according to Entrepreneur Magazine.

9. Bonus Building Care: Franchise startup costs: $7,200 - 13,600 with $6,500 of that as franchise fees. All U.S., Canadian and International regions considered. 10% royalties. Also #10 on the Top 20 Low-Cost Franchises according to Entrepreneur Magazine.

10. Jani-King. (commercial cleaning): Franchise startup costs: $3,900 - 36,000 with $3-32,000 of that as franchise fees. All U.S., Canadian and International regions considered. 10% royalties, however, as stated on their franchise web site, "Jani-King offers new Franchisees a range of fees based on the amount of initial business offered by the local Regional Support Office." Also #3 on the Top 20 Low-Cost Franchises according to Entrepreneur Magazine.

It seems like the cleaning industry started to really take off in 2006. Some of the same top 10 cleaning franchises of 2006 still remained in the top 10 in 2007 and 2008. That is one industry that continues to grow, probably because they are a little more affordable then your typically food franchise. The only problem I see is the need for employees willing to get dirty, and how many of those people are around today?

The Ultimate Team has a low cost business opportunity that will produce a nice income for the years to come. They will never make the top 10 franchise list, because they are NOT a franchise business, but if they were I'm sure they would be on the list. Before spending any money on a top 10 franchise business, check out the Ultimate Team, by going to http://ultimate.org.

Jeffrey Sloe, Internet Marketing Advisor to The Ultimate Team
440-725-3729
jeff@internetmarketingadvisors.net
http://ultimate.org

 

 

 

Franchise for Sale - Advice?

Franchise for Sale – Advice?

I would have to say that a lot of members of the Ultimate Team would agree that buying a franchise for sale is better than starting your own business from scratch. Why? All franchise businesses already have a system set in place that is proven to work (or at least they claim that it works). You should buy a franchise if you're not good at generating a business plan or coming up with marketing strategies. You should buy a franchise if you're not good at sales. Marketing strategies and sales should be covered in your typical franchise business. Both of these subjects should be addressed before buying any franchise.

Buying an existing franchise (a franchise for sale) is similar to buying an existing small business. It can be a faster and safer way for you to own your own business, providing everything is in order. When you buy an existing franchise you may pay a premium, but the advantages usually offset any extra cost. First and foremost, this franchise business is already open and doing business. Generally speaking, they should already have a considerable customer base. Other advantages of buying a franchise that is for sale are, established track records, cash flow, and goodwill. You may also find that financing is easier to secure for an existing franchise with positive cash flow, than you will for a new, unproven franchise.

There are many advantages with buying a franchise for sale just as there can be many disadvantages. Finding a quality franchise for sale may be the tough part. make sure you spend some time researching the franchise that is for sale before signing any papers. Doing so will save you lots of headaches in the long run.

The Ultimate Team has an alternative to a franchise business that fits just about everyone's wants and needs. Their alternative system will not cost you your life savings, yet can be very profitable in the long term. The Ultimate Team's system will ensure long term success, providing you follow the system guidelines. The Ultimate Team will also ensure long lasting training and support. The Ultimate Team will ensure long lasting customers, which is a necessity for long term success.

The Ultimate Team knows all about franchise businesses, search engine optimization, and the importance of customers. The Ultimate Team's system is for sale, and ready for you to take action. You can come to the Ultimate Team site to see if our alternative to a franchise business is right for you, or fill out the form below and someone from the Ultimate Team will contact you.

Jeffrey Sloe, Internet Marketing Advisor to The Ultimate Team
440-725-3729
jeff@internetmarketingadvisors.net
http://ultimate.org

 

 

 

 

Considering a Business Franchise? Find a Mentor.

Considering a Business Franchise? Find a Mentor.

Considering a small business franchise, to turn your dreams into reality? That's a tough task! Make sure you seek out someone who is familiar with business franchises, and if that person is honest and is a person of integrity, heed their advice. Share your concerns, and most definitely, ask plenty of questions. A person that has had, or still has, a business franchise can be invaluable to you. Finding the right person can be just what the doctor ordered. They can help you with your decision making process.

When talking to that person, make sure you are clear about the reason you want a small business franchise. Is it a business that will give you a day to day job, or simply a sound investment that will put others to work. Also share what your ultimate goal is. Some small business franchises demand that you own and operate your business while others allow you to hire the personnel to run your business. Your mentor can help you with theses and other concerns.

If you're unable to locate a mentor, or someone that's willing to share his or her experiences with you in person, try to find some advice online. Whatever path you take, never sign papers without talking to someone experienced with a small business franchise. Do your due-diligence. Either search Google, or ask the franchisor for referrals to receive the best possible advice.

Here is one site you may want to check out, afranchisesolution.com.

A Franchise Solution holds a great reputation for some of the best business franchise information found on Google.

Jeffrey Sloe, Internet Marketing Advisor
jeff@internetmarketingadvisors.net
440-725-3729
http://afranchisesolution.com
http://ultimate.org

 

 

 

Franchise Opportunities Information Online

Franchise Opportunities Information Online

Franchises offer franchisees the advantage of starting up a new business quickly, based on a proven system of doing business. Good franchise opportunities offer a turnkey business: from site selection to lease negotiation, training, mentoring and ongoing support as well as statutory requirements and troubleshooting.

This allows a franchise owner (franchisee) to operate a business model that works, is predictable and has a better chance of turning a profit. This gives franchises a business edge because they can focus on growing and running their businesses without tripping over common small business startup stumbling blocks.

It can be confusing when potential franchisees seek out information on franchise opportunities online. Although there are plenty of web sites, articles, and franchise business opportunity directories on the Internet, which ones can you rely on to tell your the truth? One rule of thumb, if they DO NOT have their contact information on the site, move along.

Here are some other questions you should be asking yourself, before even moving forward with your online research:

1. Do you have enough money to purchase a franchise? Most franchise offers have a projected return of investment period. However, this does not mean that you will recoup you money on the specified time. Have the money to spend on at least three months or more on your business after the stated ROI period.

2. Do you have the right personality for a franchisee? Franchisees often have to work within a specific set of rules or guidelines. That's why franchisees have to be ready to follow the company’s operations manual by the book. If you have your own ideas and you have a habit of experimenting with them, you might find the franchise opportunity's rules and regulations too restrictive for your entrepreneurial spirit.

Once you've decided to look into franchise opportunities, you need to do some research on the franchisor as well. Is the franchise organization financially sound and stable? Are the products or service ideas competitive enough to withstand changes in the market? More importantly, is the product or idea sellable in your area? If the parent company goes bankrupt while your business is still up and running, what will you do? This is the reason you should always check the annual growth records of any franchise opportunity you may be considering. Ask for the statistics on the growth of the franchise as well as the growth of the individual franchisees under the system.

Doing the research early on can save you plenty of heartaches latter on.

The Ultimate team will help you decipher the information about franchise opportunities and the idea of working from home. They have a team of leaders ready to take you under their wings and teach you the tricks of the trade. To learn more about The Ultimate Team, click on the link.

Jeffrey Sloe, Internet Marketing Advisor to The Ultimate Team
440-725-3729
jeff@internetmarketingadvisors.net
http://ultimate.org

 

 

 

Buying a Franchise is Simple, or Is It?

Buying a Franchise is Simple, or Is It?

Want to be your own boss, work from home, or just make extra money? If so, you may be tempted by an ad for a business opportunity. Before you open your checkbook, check out the offer. Fraudulent business opportunity promoters use the classifieds and the Internet to tout all kinds of offers, from pay phone and vending machine routes to work-at-home businesses like medical billing and envelope stuffing. Too often, these ads make promises - about earnings, locations, merchandise, or marketability - that sound great, but aren't truthful. The result: consumers are getting ripped off, losing money instead of making it.

You can start your own business from scratch, or have a turnkey operation by simply buying a franchise. The choice is yours. Choosing from thousands of franchise and business opportunities, in practically any field of your choice, is a simple way to get started. But, how do you differentiate between what is a good deal and a bad deal, or a good franchise and a bad franchise? What is a legit business opportunity and what is a scam?

With all of the information available on Google, you would think that it's pretty simple! RIGHT?

Buying a franchise, to start with, takes courage and lots of money. There are companies, and/or individuals ready to separate your from that money. Make sure you do your research on both the company and the principals. The research you do today can save you and your family heartache in the future. Buying the right franchise can help you achieve your financial goals. On the other hand, buying the wrong franchise, or buying into the wrong business opportunity, can cause tremendous stress, pain and suffering.

Buying a franchise is a popular thing to do nowadays, although buying a franchise has never appealed to me. It always felt like I was buying my own job. The amount of investment combined with the amount of work to put in simply does not match with my personal lifestyle. I would rather invest a bit less and work less hours but with a much faster payback time.

I can't stress enough the importance of protecting yourself, and/or your family, by spending the time to do the proper research. Don't be tempted by some exciting business offer you saw on television, or read in the newspaper. If it sounds too good to be true, it probably is! The scammers are out there, so be aware! Buying a franchise is a process; make sure you follow the proper steps to ensure happiness.

The Ultimate Team knows all about franchise businesses, search engine optimization, and the importance of customers. Come to the Ultimate Team site to see if their alternative to a franchise business is right for you, or fill out the form below and someone from the Ultimate Team will contact you.

Jeffrey Sloe, Internet Marketing Advisor to The Ultimate Team
440-725-3729
jeff@internetmarketingadvisors.net
http://ultimate.org

 

 

 

 

Franchises

Franchises

Owning your own business is a great way to become successful and independent. There is an increasing number of businesses that continue to fall short of success, however. This failure risk is high, so finding an alternative to independent business ownership is important. Franchises, many people have found, are strong alternatives to traditional business ownership. The most desirable approach to finding franchises is to search the Google, and not just for a specific franchise, but for franchises in general. Whether you have an entrepreneurial spirit and you're searching for new a business venture or you simply would like to own a business, a franchises can make it happen.

What type of business or franchise are you looking to own? A lot of franchises sold in America are a perfect fit for small business owners on the road to entrepreneurship. As a small business investor you want to lower your risk. Franchises are ideal because they significantly lower the risk factor of owning an independent business. Before you decide which franchise to own, it's important to find an opportunity that matches your personality. More importantly is to recognize if franchising is right for you.

Do you have what it takes to survive? Are you willing to work hard, and put in long hours?

Do you dream of becoming a franchise owner for a lifestyle of independence?. If so, and you hope to become successful, right now, the timing is perfect. More and more franchising websites become devoted to helping prospective franchisees find the franchise of their dreams. The franchise website has become an essential tool used by people from all backgrounds to find new business opportunities. Franchises are in high demand because they offer great benefits. If you want to set your own course in life it is said that you have an entrepreneurial mind. As the owner of a franchise, you can set your own course and truly enjoy and experience success as an entrepreneur.

One of the franchise we sites I'm talking about is afranchisesolution.com. Here you will learn about the franchise industry and what it has to offer anyone with an entrepreneurial spirit. Afranchisesolution.com is a site where information is available so you you can make an informed business decision.

Afranchisesolution.com can help you decipher between all the franchise rhetoric available on Google. Since Google is where most entrepreneurs search for information about franchises, that is where we place our focus. Franchises are in abundance, making the right franchise choice can be very rewarding, and can give you the type of financial independence most individuals seek.

Jeffrey Sloe, Internet Marketing Advisor to The Ultimate Team
440-725-3729
jeff@internetmarketingadvisors.net
http://ultimate.org